Cloud billing is a result of the evolution of cloud technology, thereby
enabling automation of the billing function by addressing the
intricacies related to the billing process. Though the regulatory and
compliance standards confine the adoption of cloud billing solutions,
businesses are gradually realizing the benefits of lean billing
processes for customer retention. The global adoption scenario of cloud
billing solutions across verticals for digital as well as non-digital
services is an indication of optimistic growth as eary adopters
advocate the benefits of this service.

Cloud billing solutions are expected to gain traction with enterprises
transferring their finances from on-premise to cloud billing solutions.
It is expected that the cloud billing market will grow from $2.4 billion
in 2013 to $9.58 billion in 2018, at a CAGR of 31.9% during the forecast
period.